HONG KONG- BASED CHINESE SHIPPING TYCOON Y.K. PAOSir Yue-Kong Pao CBE, JP (Chinese: ???; pinyin: B?o Yùg?ng), often referred to as "Sir Y.K. Pao" or just "Y.K.", was the founder of Hong Kong's World-Wide Shipping Group which in the 20 years from purchasing its first second-hand ship in 1955 became by far the largest shipping company in the world with over 20 million metric tons deadweight (DWT). Astutely anticipating the seriousness of the shipping downturn starting in the late 1970s he drastically reduced his fleet and was able to pay off associated debt and raise cash to diversify his interests notably through the purchase of a controlling stake in The Hongkong and Kowloon Wharf and Godown Company Limited (now known as Wharf (Holdings)) and later Wheelock Marden giving an exposure to Hong Kong real estate, shipping terminals, retail, ferries and trams.(WIKIPEDIA)
Photo measures 8 x 11 in.
